Manchester United transfer rumour: Gareth Bale set to cost United a mammoth €500m now

Gareth Bale is all set to sign a new deal that will keep him at Real Madrid until 2022.

Premier League giants Manchester United have been dealt a blow in their pursuit of Welsh winger Gareth Bale. Reportedly, Bale is all set to sign a new contract extension at Real Madrid that will tie him to the club until 2022 and he will have a release clause of €500 million.

Over the years, Bale has been linked with a move to the Old Trafford a number of times. He moved from Tottenham Spurs to Real Madrid for a world-record fee of €100 million in 2013. So far, the Wales captain has scored 50 goals for the Los Blancos in the 87 La Liga matches he has featured in.

Reports suggested that he was unsettled at the Spanish capital and Manchester United, who are in need of a pacey creative winger, were all set to pounce on the opportunity. However, according to the Sun, in a desperate bid to ward off United's interest, the 11-time Champions League winners have offered a new improved contract to the left-footed speedster.

As reported in the Spanish news outlet, Cadena Ser, the new contract includes a massive 500 million release clause. The contractual talks are in the final stages with the only dates being determined to announce the arrangement.

Real Madrid has recently secured the services of their German midfielder Toni Kroos, making him the highest paid German footballer in the world. It is believed that Madrid is also in talks with their star players- Cristiano Ronaldo, Pepe and Luca Modric­- over new improved deals. It has been reported that Ronaldo will earn almost a staggering €450,000 per week.

Bale has been one of the top performers at the Santiago Bernabeu in his four years winning two UEFA Champions League titles and the Copa del Rey once. The player, who started as a left-back in his early days, also performed well in the recently concluded Euro Cup and lead his team to the semi-finals.

Jose Mourinho's United broke the world transfer fee record when they signed Paul Pogba from Juventus in the summer. It was reported that the next transfer window would witness the second stage of Mourinho's squad overall at Old Trafford and Gareth Bale was one of the prime targets. However, their pursuit for the Welshman will come to a halting stop if the contract is signed.